Two Lusaka businessmen and a woman have appeared in the Lusaka Magistrate Court charged with being in possession of over K294, 000 counterfeit notes.
The first accused person in the matter, Mulenga Simwanza, 45, a Garden Compound resident admitted the charge while his two co-accused persons, Friday Muma 36, also from Garden Compound and Mercy Simasiku 44, pleaded not guilty.
The trio are charged for being in possession of K294, 100 counterfeit notes contrary to the laws of Zambia.
It is alleged that the accused persons on March 10, 2014 jointly and whilst acting together did possess K2, 941 pieces of K100 counterfeit currency notes.
Muma, who admitted the charge earlier, said he did not know that the money was counterfeit until the trio was apprehended as he was shown the money by Mulenga, his co-accused whilst it was tied in a plastic bag.
This was after he was asked by the magistrate if he had known that the money he had in his possession was fake.
Magistrate Albert Mwaba said in that case, he had recorded a plea of not guilty since the Muma had denied that he did not know that the money he had in his possession were counterfeit notes.
And when the court asked the first accused person, Mulenga, who admitted the charge, what he intended to do with the counterfeit money and whether he knew that it was fake, he told the court that he knew that the money was fake and wanted to sell the K100 notes.
And the two accused persons, who denied the charge Friday Muma and Mercy Simasiku applied for bail which the court granted with K5, 000 cash bail each.
The two were also ordered to provide two working sureties from reputable organizations who are also Lusaka residents.
Magistrate Mwaba said the accused persons will remain remanded in custody until they meet the bail conditions.
The magistrate adjourned the matter to March 17, 2014 for facts for the first accused person Mulenga Simwanza and March 26, 2014 for mention for the second and third accused persons Friday Muma and Mercy Simasiku respectively.